6 billion dollar growth markets

6 billion dollar export markets

According to the General Department of Customs, by the end of May, there were 6 export markets with billion-dollar growth including: the United States, EU, China, ASEAN, Hong Kong (China), and South Korea.

Specifically, exports to the US market reached 44.44 billion USD, up 22.3% (equivalent to an increase of 8.11 billion USD) over the same period last year, accounting for 28.4% of the country's total turnover. With this result, the US continues to be our country's largest export market.

Exports to the EU reached 20.29 billion USD, up 14.1% (equivalent to an increase of 2.52 billion USD) over the same period last year.

6 export markets with billion-dollar growth (Illustration photo)

China ranked second in terms of export turnover but third in terms of increased turnover. Specifically, Vietnam's exports to China reached 22.46 billion USD, up 10.8% (equivalent to an increase of 2.19 billion USD) compared to the same period last year.

Exports to the ASEAN market reached 14.97 billion USD, up 11.3% (equivalent to an increase of 1.52 billion USD) over the same period last year.

Exports to Hong Kong (China) reached 4.67 billion USD, up 38% (equivalent to an increase of 1.29 billion USD) over the same period last year.

Exports to the Korean market reached 10.21 billion USD, up 11.1% (equivalent to an increase of 1.02 billion USD) over the same period last year.

In general, from the beginning of the year to the end of May, the country's goods export reached 156.28 billion USD, an increase of 14.9% (equivalent to an increase of 20.23 billion USD) over the same period last year.

Exports in 6 months estimated to increase by 13.8%

The Ministry of Industry and Trade said that the export turnover of goods in the first 6 months of the year is estimated at 188.97 billion USD, up 13.8% over the same period last year (the same period in 2023 decreased by 11.3%).

The export of the key group of processing and manufacturing industry is estimated at 159.92 billion USD, accounting for 84.63% of total export turnover and increasing by 13.8% over the same period in 2023 (same period decreased by 12.6%). Agricultural products continue to be a bright spot in terms of export growth rate, increasing by 18.8% over the same period in 2023 (same period decreased by 2.3%), total export turnover is estimated at 18.21 billion USD in the first 6 months of 2024.

Regarding fruits and vegetables, the Vietnam Fruit and Vegetable Association said that according to estimates from the General Department of Customs, in the first half of 2024, fruit and vegetable exports reached 3.4 billion USD, an increase of 28% over the same period last year. Of which, durian, dragon fruit, banana and longan are the fruits that contribute greatly to the growth of fruit and vegetable exports.

Also according to the Ministry of Industry and Trade, in the first 6 months of the year, the total import-export turnover of goods is estimated at 369.59 billion USD, up 16.03% over the same period last year. The trade balance of goods continues to have a surplus with an estimated trade surplus of 8.4 billion USD.

Vietnam's cashew nut exports increase by 29.5%

According to the General Department of Customs, in May 2024, Vietnam exported 67.71 thousand tons of cashew nuts, worth 370.34 million USD, up 1.0% in volume and 3.3% in value compared to April 2024, up 18.1% in volume and 9.0% in value compared to May 2023. In the first 5 months of 2024, Vietnam exported 285.1 thousand tons of cashew nuts, worth 1.53 billion USD, up 29.5% in volume and 18.5% in value compared to the same period last year.

Vietnam's cashew nut exports increase by 29.5%

In May 2024, the average export price of Vietnam's cashew nuts reached 5,469 USD/ton, up 2.2% compared to April 2024, but down 7.7% compared to May 2023. In the first 5 months of 2024, the average export price of Vietnam's cashew nuts reached 5,387 USD/ton, down 8.4% over the same period last year.

In May 2024, Vietnam increased cashew nut exports to most markets, except the UK and Canada. In the first 5 months of 2024, Vietnam increased cashew nut exports to most markets, except Saudi Arabia. Notably, Vietnam's cashew nut exports to many major markets recorded high growth rates such as Russia, China, Germany, etc.

Among the 10 largest cashew nut export markets of Vietnam in May and the first 5 months of 2024, the United States ranked first with an export volume of 75,072 thousand tons and a value of over 399 million USD. Second place was China with 53,334 thousand tons and over 289 million USD; the Netherlands ranked third with 22,088 thousand tons and over 122 million USD; Germany ranked fourth with over 9 thousand tons and a turnover of over 48.6 million USD; the United Arab Emirates ranked fifth with 8.3 thousand tons and a value of over 46.3 million USD.

The next positions include the UK, Canada, Australia, Saudi Arabia, and Russia. Regarding the UK market alone, according to data from the General Department of Vietnam Customs, the export turnover of cashew nuts to this market reached more than 8.1 million tons with a value of more than 40.1 million USD, an increase of 13% in volume and 5.8% in value compared to the same period last year. This is also the 6th largest market among Vietnam's cashew nut export markets.

Export of cassava and cassava products earned more than 562 million USD

According to preliminary statistics from the General Department of Customs, Vietnam's cassava and cassava products exports in May reached 118,438 tons with a value of more than 51 million USD, down 35.4% in volume and 35.8% in value compared to the previous month.

Export of cassava and cassava products earned more than 562 million USD

In the first 5 months of the year, cassava and cassava products exports earned more than 562 million USD with an output of more than 1.2 million tons, down 8.4% in output but up 6.4% in value over the same period last year.

In terms of market, China is the largest consumer market for cassava in Vietnam. Since the beginning of the year, the neighboring country has purchased more than 1.13 million tons of cassava and cassava products from Vietnam, with a turnover of more than 509 million USD, down 7% in volume but up 9% in value compared to the same period last year. The average export price reached 447 USD/ton, up sharply by 17%.

Ranked second among Vietnam's cassava export markets is South Korea with 27,296 tons in the first 5 months of the year, with a turnover of more than 8.3 million USD, a sharp decrease of 58% in volume and 65% in value compared to the same period last year. Export prices also recorded a decrease of 17%, reaching 304 USD/ton.

Taiwan (China) is the third largest market in cassava export volume with 24,820 tons, reaching a turnover of over 13.7 million USD, up 5.2% in volume and 18% in value. Export price reached 553 USD/ton, up 13%.

Source: https://congthuong.vn/xuat-khau-tuan-tu-176-236-6-thi-truong-tang-truong-ty-do-327468.html